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WhatsApp launches into cryptocurrency payment
Facebook has just announced the integration of its cryptocurrency wallet Novi into WhatsApp, in the United States only. With this new feature, users will be able to transact through the USDP stablecoin, as the development of Diem, Facebook’s digital currency, is rather uncertain.
As you know, Meta never has its ambitions regarding the cryptocurrency world. With Diem formerly Libra, the social network hopes to be able to compete with Bitcoin and Ethereum. However, the objective promises to be more complicated than expected to achieve, especially after the departure of the project manager Diem David Marcus announced on December 1, 2021. In addition, we must add to that the reluctance of many governments around the world, which prevents Meta from obtaining authorizations from the competent authorities.
Despite these setbacks, Meta, or Facebook for the most nostalgic, continued to develop Novi in parallel, a cryptocurrency wallet which makes it possible in particular to make payments with USDP, a stable coin pegged to the dollar and issued by Paxos. And precisely, David Marcus, the future ex-manager of Novi, has just announced a new symbolic step for the project. Indeed, the digital wallet has been integrated on WhatsApp in the United States.
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WhatsApp goes cryptocurrency with Novi
“Another small step in the right direction. Today we start to roll out the Novi Wallet in WhatsApp in the United States. On a personal level, it’s the best gift from the best team ever ”, he assured on Twitter. According to the Novi website, sending a payment works like sending any other attachment in WhatsApp. You can access the service directly via the paperclip icon on Android or the + icon on iOS and select Payment.
According to Novi, there is no charge for sending or receiving money, while that there is no limit on the frequency of transactions. In addition, payments are made instantly. As David Marcus recently clarified, the next step remains the integration of Diem on Novi. As a reminder, Meta already offers an online payment service on WhatsApp in Brazil, but also in India where it is not based on Facebook Pay, but the UPI (Unified Payments Interface).
Source: The Verge